Question
19. A donor promises to give $50,000 cash to the Physics Department to be used as scholarships for physics majors. The university will record a.
19. A donor promises to give $50,000 cash to the Physics Department to be used as scholarships for physics majors. The university will record
| a. | Contribution Revenue Unrestricted | c. | Contribution Revenue - Permanently Restricted |
| b. | Contribution Revenue Temp. Restricted | d. | nothing |
20. In its fund-raising drive, the Humane Society received total pledges of $55,000; it also contacted other possible donors who were still considering whether to make pledges of $8,000. What amount of contribution revenue should be recorded?
| a. | $55,000 | c. | $8,000 |
| b. | $63,000 | d. | Zero |
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Financial and managerial accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
1st edition
111800423X, 9781118233443, 1118016114, 9781118004234, 1118233441, 978-1118016114
